DHFL eyes 35% growth in education loan book at Rs 1,200 crore

"Our portfolio stands at over Rs 900 crore and we are looking at a growth of 35 per cent next year," a company spokesperson told PTI today.

The education loan arm of mortgage lender DHFL, Avanse Education Loans (Avanse), is looking at a 35 per cent growth in total portfolio next year.

"Our portfolio stands at over Rs 900 crore and we are looking at a growth of 35 per cent next year," a company spokesperson told PTI today.

The company today launched 'Swalaksh' - a product that offers 5 per cent scholarship based on tuition fee to girls who are keen to pursue undergraduate and postgraduate studies across any stream.

The product will translate into a cashback advantage for students on successful completion of the identified course. This scholarship will be available to girl students who avail of an education loan from Avanse, the company said.

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The aim is to help girl students continue higher education, including overseas, it said.

For instance, based on a tuition fee of Rs 20 lakh for any global institution, the product will offer a 5 per cent scholarship, or Rs 1 lakh cash back advantage, on completion of the course.

According to the company, "the quantum of girls pursuing under graduate and postgraduate education has been reflecting good growth and the launch of our product 'Swalaksh' to commemorate Women's Day is an endeavour to ensure continuation and sustenance of this positive trend." Around 25 per cent of Avanse's total loan portfolio comprises interest from academically inclined girls, the company added.

With a hassle-free process, Avanse strives to approve loan in a maximum four days with disbursal going up to 100 per cent of the application amount. It provides flexible repayment plans and up to 10 years of tenure.